Transactions between two private limited companies having same directors
This query is : Resolved
07 September 2021
Bill was raised by "A", a private limited company, but the amount was credited to another private limited company "B". Both private limited companies having the same directors. Will it be an issue? Any solution? Or these kind of transactions can be continued?
07 September 2021
Such receipts will be considered as gift and taxable in the hands of B.
Such transactions can't be continued.
Such transactions can't be continued.
07 September 2021
Sir, thanks for the reply.
Can't it be considered as loan/advance and adjusted/paid in the future? Kindly clarify.
Can't it be considered as loan/advance and adjusted/paid in the future? Kindly clarify.
07 September 2021
Loan/Advance should be received from company A.
08 September 2021
Sir, thanks for the reply.
08 September 2021
You are welcome.............
09 September 2021
It should be considered as Loan and voilation of provisions.
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09 September 2021
@Divesh Thanks for the reply.
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